Alphabet Inc. $GOOG Stake Decreased by Granite Bay Wealth Management LLC

Key Points

• Granite Bay Wealth Management cut its Alphabet stake by 16.6% in the fourth quarter, selling 5,877 shares and leaving it with 29,472 shares worth about $9.25 million.
• Alphabet’s recent fundamentals remain strong: the company beat quarterly earnings estimates with $5.11 EPS and $109.9 billion in revenue, while revenue rose 21.8% year over year.
• The stock has continued to attract positive attention from analysts and investors, with Alphabet raising its quarterly dividend and Wall Street maintaining a Buy consensus price target of about $372.65.

Granite Bay Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,472 shares of the information services provider's stock after selling 5,877 shares during the quarter. Alphabet comprises about 2.2% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 15th biggest holding. Granite Bay Wealth Management LLC's holdings in Alphabet were worth $9,249,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider's stock valued at $132,114,125,000 after acquiring an additional 8,128,234 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock valued at $24,240,469,000 after acquiring an additional 7,904,434 shares during the period. Alliancebernstein L.P. increased its stake in shares of Alphabet by 5.8% during the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock valued at $9,749,864,000 after acquiring an additional 2,209,203 shares during the period. Legal & General Group Plc increased its stake in shares of Alphabet by 0.7% during the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider's stock valued at $7,935,671,000 after acquiring an additional 223,743 shares during the period. Finally, Capital World Investors increased its stake in shares of Alphabet by 1.9% during the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider's stock valued at $6,971,769,000 after acquiring an additional 539,679 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Recent commentary says Alphabet was one of the biggest winners among the Mag 7 this earnings season, helped by accelerating Google Cloud sales and broader AI-driven strength. Alphabet and NVIDIA: The Biggest Mag 7 Winners This Earnings Season
• Positive Sentiment: Analysts highlighted Alphabet’s new AI ad formats and shopping tools as potential catalysts for stronger search monetization, higher conversion rates, and increased ad spending. Alphabet's new AI ad formats seen boosting conversions and spending
• Positive Sentiment: Alphabet also announced a large $15 billion data center and AI infrastructure investment in Missouri, reinforcing investor confidence in its cloud and AI buildout. Google Deepens Missouri Roots with New Data Center, Energy, and Community Investments
• Neutral Sentiment: Google unveiled new AI search and agent features at I/O, which could improve engagement over time, but the rollout also raised concerns about complexity and possible disruption to the traditional search experience. You can no longer Google the word ‘disregard’
• Neutral Sentiment: Waymo temporarily paused some robotaxi and freeway services after safety issues in flooded roads and construction zones; while this is not core to Alphabet’s profits, it adds execution risk and negative headlines. Waymo suspends freeway rides, pauses Atlanta operations amid safety fixes
• Negative Sentiment: Alphabet has appealed the U.S. search-monopoly ruling, keeping antitrust overhang and potential remedies in focus for investors. Google appeals US court ruling on search monopoly

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company's stock, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 955 shares of the firm's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at $2,955,564. This represents a 8.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 226,481 shares of company stock valued at $27,422,061 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 1.1%

Alphabet stock opened at $379.38 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.60 trillion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.62 and a beta of 1.25. Alphabet Inc. has a 1 year low of $163.33 and a 1 year high of $404.47. The firm's 50 day moving average price is $335.54 and its two-hundred day moving average price is $320.81.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.81 earnings per share. On average, research analysts predict that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is presently 6.41%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Wedbush reiterated an "outperform" rating and set a $370.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. Pivotal Research reiterated a "buy" rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated a "market perform" rating and set a $345.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. DZ Bank upgraded shares of Alphabet to a "strong-buy" rating in a research note on Monday, February 16th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $450.00 price objective on shares of Alphabet in a research note on Thursday. Six analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Buy" and a consensus price target of $372.65.

Alphabet Profile

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.